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Post by shebilemoine on Jul 5, 2013 21:35:18 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
I agree with the article about how if your competitors win so do you. I see a lot of competition with gas stations. Gas stations usually set their price of gas around the nearby competitors. They usually set their price a few cents above or below the competitor’s price. If you and your competitor set prices at about the same price then both of you should still make a profit.
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Post by campbell22 on Jul 6, 2013 12:54:54 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well I never really looked at it this way but it does make sense. If your competitors are doing well then obviously they're doing something right so you wouldn't have a problem producing as well. It can also provide motivation if you see your competitors doing well because you want to be as successful as them so you work twice as hard as you ever have before. It could also help in another way such as if you competitors are not doing that well in the business. This could maybe help your company take on a different route of doing things since you see your competitor's technique isn't that effective.
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Post by jacobthompson on Jul 8, 2013 16:28:28 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
I really liked this article. I believe that competition benefits both businesses and consumers. On the business side, competition keeps you on your toes and produces innovation. Also, if employees feel like competition is getting the best of them, they tend to rise up to the challenge and overcome it. On the consumer side, If there are multiple firms competing for your business, the quality of products and services will continue to increase.
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Post by jeff on Jul 8, 2013 23:17:35 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
I can definitely see how competition would be good in all the ways the author mentions. One that he doesn't is motivation. If you already have people who are invested in you and your business, than all you have to do is decide that you want to immolate a competitor who is doing good in order to best them, and your people will follow. Simple as that.
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Post by anthonytaormina on Jul 9, 2013 10:42:26 GMT -6
Alt link 48: INSTANT MBA: Don't View An Issue As An Isolated Problem
Much like a doctor, one can not treat individual symptoms to cure a person. They have to treat the underlying cause. Like with any problem or issue in the work place, just fixing individual issues may not solve the larger problem. On a side note, Anthony seemed like he was shouting in his first quote, and listed way more than four things in his focusing on four systems quote.
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Post by Michael Miller on Jul 10, 2013 20:30:02 GMT -6
This isn't always true. Your competition may be doing better because the account manager has better relationships with key clients, Relationships are at times a lot more important than business models.
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Post by lydell on Jul 17, 2013 15:21:53 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
I now understand what the article is explaining, but I do not firmly agree with it. From my understanding, this article saying that a competitor’s success is setting the stakes for you to outshine them eventually.To gain competitive advantage, a firm needs to create an innovative good or service that is in demand, and therefore, satisfy the needs of a defined target market.I never really looked at it this way but it does make sense. If your competitors are doing well then obviously they're doing something right so you wouldn't have a problem producing as well.
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Post by hayleymcglothren on Jul 21, 2013 12:30:33 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
This article seems to be saying that the better your competitors get, the harder you will work to out do them. This is probably true with a lot of businesses today. When I worked for Pilot Travel Center, we had to do in store surveys for prices and etc. to make sure we were staying competitive with our pricing. If the prices were way off, the company made some adjustments. Business works that way in many areas. By doing this, a company is ensuring they stay in the game as far as competition goes.
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Post by gabrielle on Jul 23, 2013 17:01:12 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
This article points out a point that I never thought about. It is beneficial for your competitors to do well. It is not a good sign for you if your competitors are not doing well because you are in the same industry as them and it could mean that hard times are coming your way. Also, if your competitors are doing well you can share some of that glory by comparing your business to theirs and showing how you are similar to their successes. You can then best them by pointing out how you are going to do better or give extra, but having that comparison in the beginning gives people the confidence to spend their money with your business.
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Post by kcarson7 on Jul 23, 2013 18:28:18 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
I've always been a fan of a little friendly competition, as I think it can prove better for everyone in the long run. It makes both sides really work a lot harder to succeed, and in all reality, without it, people just wouldn't try as hard. Knowing that you must do better, and be better than someone else is what keeps a lot of people going. Without competitors, people wouldn't have motivation knowing that if they mess up, they can pick up right where they left off without the threat of someone else taking over.
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Post by kayminix on Jul 23, 2013 18:50:27 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
This article is somewhat hard to agree with, I think that you can benefit more from your competitors when they fail because you can see what they did and eliminate that from your game plan right off. However, I also do partially think that it's important to pay attention to what they are doing when they are succeeding as well. You can learn from them, and take what they are doing and improve it even more, bringing their customers to your own business.
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Post by msimoneaux on Jul 23, 2013 19:52:20 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well
This is an example that came to mind as I read this article. I've heard that stores like CVS will wait for Walgreens to do all the research and marketing for a location and then build right next to them. This is also a way of benefiting from your competitors.
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Post by meganbahm91 on Jul 25, 2013 9:57:59 GMT -6
When your competitors do well you do not benefit. You should always be ahead of them. When they do well, you do not. But you can always learn from your competitors and see how you can better develop a similar product that will keep you on top.
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Post by briandavis1 on Jul 25, 2013 12:00:10 GMT -6
Instant MBA: You Benefit When Your Competitors Do Well I do not really agree with this. Yes when your competitors are doing well you can view them and correct some of your issues. But when your competitor is doing better than you your company must fix things and then push to be better than those competitors. this seems like you are always playing catch up and trying to remain afloat in the market.
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Post by cmbrogan on Jul 25, 2013 14:31:40 GMT -6
INSTANT MBA: Don't View An Issue As An Isolated Problem
I can take this article both ways. sometimes, the issue may be an isolated problem; however, I agree that there could be more to it. So, if an issue arises I would think that looking at the big picture instead of pinpointing one item or person would be more benficial - especially in the long run.
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